Expanding its footprints in India, ASICS, the leading Japanese performance sportswear, has plans to add 18 stores in 2022. Most of the stores would come in non-metro Tier-2 and Tier-3 cities.
As of now, ASICS operates a network of 55 stores (on a franchise model) in India.
Expecting to meet 30 per cent of local sourcing requirements under the current FDI policy in retail, the company has already started domestic production of some of its products here.
The company is also expanding its products portfolio and expects around 40 per cent of sales to be contributed from e-commerce.
Rajat Khurana, MD, ASICS India said that as per company’s strategy, it would intensify its presence on e-commerce platforms while expanding its business through its network of retail stores also. “We expect the business to grow business 20-25 per cent in 2022 by value,” he said.
He added that e-commerce has been a growth engine for the company in the past two years. In 2021, ASICS’ 40 per cent of sales would come from e-commerce, while in 2019, online sales contributed to around 20 per cent of its sales.
The company’s aim is to touch the mandatory 30 per cent local sourcing threshold in the next 2-3 years. Rajat told that the company has right infrastructure here and if all goes well, it would attain this in next 2-3 years.
Recently, the company expanded the width of its apparel business, and its contribution to the total business is going up.
ASICS is presently getting its entry price footwear, school shoes and apparel manufactured locally.
Talking about market, he said that footfalls are back to about 90 per cent of pre-pandemic levels.
Founded in 1949, ASICS is a leading designer and manufacturer of running shoes, as well as athletic and sport style footwear, apparel and accessories.
